Summary: Recreational marijuana sales in Arizona surpassed $100 million for the first time in March 2023, marking a significant milestone for the state’s cannabis industry. However, while the recreational market continues to grow, sales in the medical market have noticeably shrunk
Arizona’s Recreational Marijuana Sales Hit $100M Milestone in March
In a significant milestone for Arizona’s cannabis industry, recreational marijuana sales surpassed the nine-figure mark for the first time in March 2023. According to data from the state Department of Revenue, recreational cannabis sales in March reached a total of $100.7 million, in addition to $32 million in medical marijuana sales. This marks a significant increase since the adult-use market launched in January 2021.
However, in April, the adult-use market saw a slight decrease, with sales totaling $86.4 million, alongside $30.2 million in medical sales. The sales trend over the past 2.5 years has shown a steady growth in the recreational market, while sales in the medical market have noticeably shrunk. At the end of 2021, the top month for recreational sales was December, with $73 million, while medical sales had already begun to slide downward from a peak of $73 million in April that year.
In 2023, medical sales have not come close to that amount, thus far topping out at $32 million per month. In contrast, recreational marijuana sales figures have continued to grow over time, with the top-grossing month in 2022 being December, with $93.4 million in sales. Since January 2021, Arizona medical dispensaries have sold a total of $1.3 billion in cannabis, while recreational shops have sold just over $2 billion in cannabis.
[Source: Green Market Report].
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